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Visual21 Nov 2025
Data center suppliers
Barings BDC (BBDC) investor relations material
Barings BDC Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary7 Nov, 2025
Executive summary
Leadership transition announced: Tom McDonald to become CEO effective January 1, 2026, with Eric Lloyd moving to Executive Chairman and remaining President of Barings LLC.
Net investment income for Q3 2025 was $33.6 million ($0.32 per share), fully covering both regular and special dividends.
Net asset value (NAV) per share was $11.10 as of September 30, 2025, down from $11.18 at June 30, 2025, primarily due to realized and unrealized losses, partially offset by net investment income exceeding dividends.
Portfolio remains focused on core middle-market, sponsor-backed, senior secured strategies and defensive, noncyclical sectors.
Total investment portfolio increased to $2.54 billion at fair value as of September 30, 2025, with 333 portfolio companies held.
Financial highlights
Total investment income for Q3 2025 was $72.4 million, up from $70.9 million in Q3 2024.
Net income for the quarter was $23.6 million, or $0.22 per share.
Regular quarterly dividend of $0.26 per share declared for Q4 2025, with a special dividend of $0.05 paid in Q3.
Weighted average yield on performing debt investments was 9.8%–9.9% as of September 30, 2025.
Portfolio sales and repayments in the Sierra portfolio totaled $3.9 million, with 16 positions remaining.
Outlook and guidance
Management expects current cash, available borrowing capacity, and anticipated cash flows to be adequate for daily operations for at least the next twelve months.
Anticipates a measured increase in deployment opportunities into 2026, favoring scaled franchises.
Expects moderate uptick in repayment velocity by year-end, but not materially impacting deployed capital.
Confident in the stability of the regular dividend and resilience of net investment income despite lower forward rates.
Portfolio strategy remains focused on sponsor-backed, senior secured, core middle market loans.
Tom McDonnell's immediate strategic focus?
Detail BBDC's specific underwriting criteria.
Given stock discount, what's the buyback plan?
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Next Barings BDC earnings date
Q4 202520 Feb, 2026
Next Barings BDC earnings date
Q4 202520 Feb, 2026
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Frequently asked questions
Barings BDC Inc. is a closed-end, externally managed business development company. It focuses on providing financing solutions, including debt and equity investments, to middle-market companies across a wide range of industries. The company invests primarily in senior secured loans, junior debt, and equity co-investments. It is headquartered in Charlotte, North Carolina, and its shares are listed on the NYSE.
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